Intel Capital to invest $20 m in six Indian companies

Intel Capital, Intel's global investment organisation, on Friday announced plans to invest about $20 million in six Indian companies as part of Intel Capital's ongoing efforts to support Indian technology innovation and entrepreneurship.

“Indian entrepreneurs are increasingly at the forefront of innovation, using technology to change the way we live and do work. Intel Capital's investments in these six companies will help them grow their businesses and push into new markets,” said Arvind Sodhani, President of Intel Capital and Executive Vice-President of Intel.

The six companies are: Saankhya Labs, a fabless semiconductor company; Testing Czars, a global independent test engineering and solutions provider for mobile applications; Financial Inclusion Network and Operations (FINO), a business and banking technology platform provider with an extensive services delivery channel; What's on India, a premier electronic programming guide for television; enStage, an electronic payment solutions and processing provider; and Duron Energy, a pioneer in affordable solar power products designed for off-grid use in emerging markets.

The company had already completed investments in three companies — Saankhya Labs, Testing Czars, and FINO.

Funding for the investments comes from the $250 million Intel Capital India Technology Fund established in December 2005.

This fund invests in Indian technology companies to stimulate local innovation and the continued growth of India's information technology industry.